101: Trading price patterns with Brent Penfold
Episode description
Most trading strategies are built to find repeatable patterns in the market and then attempt to exploit any future occurrences of the pattern to make a profit.
There are lots of different ways to find patterns, and in this episode Brent Penfold talks about patterns in price action.
Brent is a full time trader, author, educator and licensed Futures Advisor, and in our chat you will learn:
- Why it can be better to focus primarily on price instead of a collection of indicators,
- How to identify patterns in price action,
- The dangers of trading stocks and why Futures are a superior trading instrument for active traders,
- How a 'universal dataset' can lessen the risk of datamining,
- How to blend individual systems into a portfolio to produce smooth equity curves.
PLUS, we announce the lucky winner of the Better System Trader 'Super-package' giveaway, worth almost $20,000!
Disclaimer: Trading in the financial markets involves a substantial risk of loss and is not suitable for everyone. All content produced by Better System Trader is for informational or educational purposes only and does not constitute trading or investment advice. Past performance is not necessarily indicative of future results.